This coming Monday at noon, I'll be touring my very first large multi family property, a 76 unit in Dallas, NC
I believe this is a great value add opportunity and a good first deal. I'll be submitting an LOI shortly after touring.
What are some of the best ways to build a team for this deal?
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Hey @Albertinny Colin . I'd encourage you to attend meetups in your area and build relationships with nearby investors. In person networking will lead you to the best people, and will allow you to build stronger relationships faster.
As far as building a team for apartment investing, I'd start by identifying what your strengths are. In this situation, you have a deal. So, you might need to find a partner who can raise capital. You also will likely need a partner who has a high net worth that sign off on the loan as a guarantor.
I am in the Triangle area of NC. I'd love to connect with you.
Good luck, hope the tour goes well!
@Albertinny Colin I would focus on building your team and your credibility FIRST. I would worry about submitting offers later when you are ready. It wouldn't be beneficial for you to submit an offer now if you have no team in place to take it down.
To your question, I would highly recommend attending local meetups, taking experienced sponsors out to lunch, and even joining masterminds. Also start building relationships with local PMs and contractors. They can be valuable to join when touring properties and getting feedback from.
Let me know if I can help further! Good luck!
@Albertinny Colin How did your walk through go today?